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MarketScreener Homepage  >  Equities  >  Xetra  >  Bayer AG    BAYN   DE000BAY0017

BAYER AG

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Bayer : opens application window for Grants4Ag

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09/21/2020 | 10:35am EDT
Monday - September 21, 2020
Initiative offers financial support for novel approaches and enabling technologies in crop research
Bayer opens application window for Grants4Ag
downloadBayer supports the search for new approaches that lead to innovative solutions in plant research.

Monheim, September 21, 2020 - Bayer announced today that it has opened the application window for its Grants4Ag initiative. First introduced in 2015, the initiative has evolved in 2020 to offer researchers financial and scientific support to develop ideas for novel solutions across all research and development areas in the Division of Crop Science. Deadline for submissions is October 31, 2020.

'Our previous Grants4 programs succeeded in attracting top proposals in targeted niches - particularly biotech traits and biologicals,' said Phil Taylor, Open Innovation Business Partner for the Crop Science division. 'The new Grants4Ag model expands the reach to a greater number of potential applicants, and therefore more diverse innovations.'

As with previous Grants4 programs, there are no formal reporting requirements and applicants retain ownership of any intellectual property developed. Taylor says the company views these grants as an initial investment with the potential to become larger-scale, longer-term collaborations with Bayer.

In addition to the grants (typically ranging from 5,000 to 15,000 euros), each recipient will be partnered up with a Bayer scientist who will provide guidance and feedback on the project. Previous grant recipients say the latter sets the Grants4 program apart from traditional funding programs.

'The Bayer Grants4 program is easy to apply for and allows us to test technologies with feasibility experiments whose results can bridge current and future projects,' said Hank W. Bass, Professor of Biological Science at Florida State University, who was awarded a grant in 2019 to study corn plants' response to flooding.

In total, last year's grants program received submissions from 17 countries around the world. A total of 21 grants were awarded.

For the 2020 Grants4Ag submission period, Bayer is partnering with Halo, a marketplace that helps companies connect with scientists through an intuitive, streamlined interface.

'We created Halo to help companies discover and collaborate with scientists to solve today's challenges and stay a step ahead of tomorrow's,' said Kevin Leland, CEO and Founder of Halo. 'Bayer has long been a champion of open innovation and we're thrilled to be powering this latest search so even more scientists from universities and startups can benefit from its resources and industry knowledge.'

Full details on the programs' sought-after solutions, application process and submission rules are available at halo.science/company/bayer-crop-science.

About Bayer
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population. At the same time, the Group aims to increase its earning power and create value through innovation and growth. Bayer is committed to the principles of sustainable development, and the Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2019, the Group employed around 104,000 people and had sales of 43.5 billion euros. Capital expenditures amounted to 2.9 billion euros, R&D expenses to 5.3 billion euros. For more information, go to www.bayer.com.

Forward-Looking Statements
This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer's public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

Disclaimer

Bayer AG published this content on 21 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 September 2020 13:34:05 UTC


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